SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Determine financial requirements of a new venture 
SAQA US ID UNIT STANDARD TITLE
119666  Determine financial requirements of a new venture 
ORIGINATOR
SGB Generic Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Generic Management 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular-Fundamental  Level 2  NQF Level 02 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2015-07-01  2018-06-30  SAQA 10105/14 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2019-06-30   2022-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
Learners working towards this standard will be learning towards the full qualification, or will be working within a SMME (Small, Medium, Micro Enterprise) environment, specialising in New Venture Ownership and Management, where the acquisition of competence against this standard will add value to one's job. This standard will also add value to entrepreneurs who are seeking to develop their entrepreneurial skills so that they can become more marketable for bigger contracts, including commercial and public sector contracts, for example the Department of Public Works programmes.

The qualifying learner is capable of:
  • Determining the financial and cash flow requirements of a new venture
  • Determining income and expenditure of a new venture
  • Implementing pricing and costing principles
  • Identifying resources to obtain start-up capital 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    All learners accessing this qualification must be in possession of a GETC or equivalent qualification. The learner must be competent in mathematical literacy at NQF level 1. 

    UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Determine the financial and cash flow requirements of a new venture. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Financial and cash flow requirements for a new venture are explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Financial requirements include but are not limited to start-up costs, running costs, capital investment costs for growth of business, staff costs.
     

    ASSESSMENT CRITERION 2 
    The concept of profit and loss is explained in relation to the financial requirements of a new venture. 

    ASSESSMENT CRITERION 3 
    The concept of profit and loss is explained in relation to the market needs of a new venture. 

    ASSESSMENT CRITERION 4 
    Start-up requirements and costs are determined according to financial capacity and resources. 

    ASSESSMENT CRITERION 5 
    The concepts of start-up capital and working capital are explained in relation to own business. 

    ASSESSMENT CRITERION 6 
    The relationship between 'cash flow' and 'profit' are explained with examples. 

    ASSESSMENT CRITERION 7 
    The concept of assets and liabilities is explained with examples that relate to own business venture. 
    ASSESSMENT CRITERION RANGE 
    Assets include fixed and current assets and liabilities include long- and short-term liabilities.
     

    ASSESSMENT CRITERION 8 
    The importance of finances as part of a business plan is explained with examples. 

    SPECIFIC OUTCOME 2 
    Determine income and expenditure of new venture. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept of budgeting is explained with examples of how budgets apply to new ventures. 

    ASSESSMENT CRITERION 2 
    Income is budgeted according to market research and business growth opportunities. 

    ASSESSMENT CRITERION 3 
    Expenditure of new venture is determined and fixed and variable costs are identified within own business context. 

    ASSESSMENT CRITERION 4 
    A budget is compiled accordingly. 

    ASSESSMENT CRITERION 5 
    Methods for managing and controlling budget are explained, with examples. 

    SPECIFIC OUTCOME 3 
    Implement pricing and costing principles. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Costing principles are identified and explained in relation to trading, retailing, manufacturing and services ventures. 

    ASSESSMENT CRITERION 2 
    Breakeven points for pricing purposes are identified and evaluated to determine how much business must be executed to ensure breakeven. 

    ASSESSMENT CRITERION 3 
    The concept of mark-up is explained and utilised in relation to own new venture. 

    ASSESSMENT CRITERION 4 
    The factors that influence pricing are identified with examples. 
    ASSESSMENT CRITERION RANGE 
    The factors that influence pricing include but are not limited to wider economic trends, market needs, expenditure, supplier pricing, competition.
     

    ASSESSMENT CRITERION 5 
    Pricing calculations are utilised to determine pricing of product/service in own venture. 

    ASSESSMENT CRITERION 6 
    Budgets are revised according to pricing determinations. 

    SPECIFIC OUTCOME 4 
    Identify resources to obtain start-up capital. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The various resources required for starting a new venture are identified and evaluated according to financial capacity. 
    ASSESSMENT CRITERION RANGE 
    Resources include but are not limited to start-up capital requirements, banking funding, government and related subsidies, borrowings.
     

    ASSESSMENT CRITERION 2 
    Funding options and services offered by the finance industry for new ventures are identified and compared to determine viability of obtaining funding. 

    ASSESSMENT CRITERION 3 
    Alternatives to funding options are explored to ensure that all options are considered. 
    ASSESSMENT CRITERION RANGE 
    Alternative funding options include but are not limited to utilization of any savings and the risks associated therewith, cash sales, no funding.
     

    ASSESSMENT CRITERION 4 
    The risks associated with funding are explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Costs include but are not limited to interest on loans, guarantee requirements, collateral requirements.
     

    ASSESSMENT CRITERION 5 
    The costs of the various funding options are compared to determine suitability for own venture's business structure. 

    ASSESSMENT CRITERION 6 
    Repayment options are explored and compared to determine best options. 

    ASSESSMENT CRITERION 7 
    The information needed to process funding applications is explained and completed according to business requirements. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Any individual wishing to be assessed (including through RPL) against this unit standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    The learner must demonstrate an understanding of:
  • The principles and skills of financial and cash flow planning
  • The principles and techniques for pricing and costing
  • The principles of generating start-up capital and working capital for a new venture
  • Techniques for compiling cash flow forecasts
  • Skills for determining profit and loss in a own business context
  • The basic principles of compiling budgets
  • Basic budget management principles
  • The basic principles of compiling financial plans and how they fit into a business plan
  • Techniques for researching funding resources 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems using critical and creative thinking processes to determine the cash flow and financial requirements of a new venture. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organisation or community to determine the financial and cash flow requirements of a new venture. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one's activities responsibly and effectively in order to gather all the necessary data to compile financial plans for a new venture. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and crtically evaluate financial information in order to put and accurate financial and cash flow plan together for a new venture. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and/or language in the modes of oral and/or written persuasion to compile financial and cash flow plan. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively and critically, showing responsibility to the environment and health of others in ensuring all financial, cash flow, pricing and costing techniques are incorporated into financial plan for a new venture. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of interrelated systems by recognising that new venture financial problem-solving contexts do not exist in isolation. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Participating as responsible citizens in the life of local, national and global communities by analysing all aspects of financial and cash flow plans in relation to own new venture opportunity. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  49648   National Certificate: New Venture Creation (SMME)  Level 2  NQF Level 02  Reregistered  2018-06-30  SERVICES 
    Elective  58955   National Certificate: Chemical Manufacturing  Level 2  NQF Level 02  Reregistered  2018-06-30  CHIETA 
    Elective  80786   National Certificate: Home-Care Practices  Level 2  NQF Level 02  Reregistered  2018-06-30  SERVICES 
    Elective  58144   National Certificate: Music Industry Practice  Level 2  NQF Level 02  Reregistered  2018-06-30  CATHSSETA 
    Elective  58206   National Certificate: Wholesale and Retail Operations  Level 2  NQF Level 02  Reregistered  2018-06-30  W&RSETA 
    Elective  50541   National Certificate: Locksmithing  Level 3  NQF Level 03  Reregistered  2018-06-30  SAS SETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Centre For Business Education & Training 
    2. GP Retail Operations (Pty) Ltd 
    3. Martiq 1223 cc 
    4. SSD Consultants 
    5. THE SCHOOL OF ADVANCED LOCKSMITHING PTY LTD 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.